Watch Nifty Movement with technical (charts collections)

[santhosh2010]

Banknifty and Banknifty future both are NR7 in yesterdays EOD candle.

 

[santhosh2010]

Nifty spot already we expected possible to some short covering pullback rally.

Yes, Now nifty post trades around + 60 points compare to yesterday close.
Today 7500 put option added 11K contracts (Max Change in OI) open positions.
It seems bulls build a strong support at 7500 level.

Hourly chart shows nifty facing strong resistance at negative break out trend line (Internal).
Resistance level is 7535 -7540 (breakout line + trap zone).

Nifty spot if breach the resistance level then we may see some sharp bull rally up to 7720 level.

 

[santhosh2010]

 

[santhosh2010]

After 14 days consolidation now NYMEX crude oil breaks the mother candle low range.

Today close is very important for further trend decide.

Previously we expect price will hold above $ 104.50. (Positive breakout trend line support)

Now price breach as well trades below the support line.

We are expect some profit booking pull back possible at next strong support $103.70 level.

Pull back rally if didn’t breach $ 105.50 then down trend will be start here, Down side targets $102 and $99.30.

NYMEX CRUDEOIL Made low 99.61(Almost near our second target)..
Once if hold below $99.30 then i am expect next target $94.00

 

[santhosh2010]

 

[santhosh2010]

Yesterday we expect NYMEX crude oil has hold below 99.30, But after touch the low $ 99.01 NYMEX crude oil pulled back again above $99.30 level, It seems some profit booking pull back rally.

MCX crude oil took support at 5970 level. Currently mcx crude oil is in down trend. Now key resistance is 6040 level. MCX crude oil Once if breach the resistance we expected short covering pullback rally up to 6150 level.

 

[santhosh2010]

 

[santhosh2010]

Banknifty and Banknifty future both are NR7 in yesterdays EOD candle.

Bank nifty spot will take strong resistance at 15350 levels.

Bullish Wolfe wave target 15600 level, so bank nifty spot will breach the resistance level after some consolidation.

We will get “v bottom” confirmation when Bank nifty spot if hold and close above the resistance range.

V bottom range is 1000 points. So bank nifty spot if hold above the resistance then we will get fresh breakout target.

Target may be 16300.

 

[santhosh2010]

Nifty spot today breach and close above the weekly pivot point, One more interest thing is monthly pivot point and weekly pivot point both are same level(7573 -7582).So now 7550 level is strong support for nifty spot.

Short covering rally target is still pending, Target is 7720.

Bullish Wolfe wave target is 7800.

Channel pattern top line resistance is 7850.

 

[santhosh2010]